Feeling the squeeze
New Ipsos poll for the Resolution Foundation shows that the British public is feeling the squeeze
Fewer than half of British adults (43%) say they have cash left over at the end of the month, according to a new poll for the Resolution Foundation by Ipsos. Just one in five make regular monthly savings (22%).
A significant minority are pessimistic about their future financial situation. A quarter (25%) expects their financial situation to get worse over the next 12 months. People over 55 are most likely to expect to be less well-off in the next year (30%).
There is also concern about job security. Among people in work, only two in five feel secure in their job (41%), falling to just a third of those who work part time (33%).
Fewer than one in ten adults (8%) worry that they will never own their own home, rising to one in five of those under 35 (19%).
More positively, the vast majority of people are able to pay their rent or mortgage (only 6% say they have difficulty in doing so) and afford essentials such as food and energy bills (only 3% say they are unable to afford these).
Analysis by the Resolution Foundation shows that people in low to middle income households are particularly feeling the pinch compared to those in high income households. Just under half of people in low to middle income households have cash left over at the end of each month (48%) and fewer than three in ten (27%) make monthly savings. By contrast, two-thirds of people in higher income households have cash left over each month (66%) and half say they make monthly savings (47%).
Ipsos interviewed a representative sample of 1,980 adults aged 16+ across Great Britain. Interviews were conducted by telephone 1-7 July 2011. Data are weighted to match the profile of the population.
Low to middle income households are defined at those with incomes below the UK median but excluding those with household incomes equivalent to the bottom 10% of working age households, and adjusted for household size. This equates to a gross household income of £12-30k for a couple with no children, £24-42k for a couple with two children and £30-48k for a couple with three children. Figures exclude those who declined to state an income.
